LIV could reschedule June's New Orleans event

Discussion about LIV's future went into overdrive earlier this month as the tour prepared for its latest event in Mexico.

Several media outlets - across golf, sports news and finance - reported its imminent closure, before chief executive O'Neil insisted it was business as usual in a tubthumping email to staff.

It was striking O'Neil only spoke about 2026 and did not address what might lie ahead.

Players were told last month that funding was in place until 2032 but well-placed figures in European golf told BBC Sport they believe PIF is withdrawing its financial support.

One source said he fully expected 2026 to be LIV's last season and another felt its leadership was trying to convince itself other revenue could be found.

But many - as one summarised - think it may fall apart quickly.

The LIV project, which pivoted to a more traditional 72-hole format this year, has been bankrolled by an eye-watering amount of money from PIF.

The overall investment surpassed $5bn (£3.8bn) when fresh capital of $266.7m was injected earlier this year.

The tour's net losses in markets outside the US increased to $462m (£340m) in 2024, meaning it had lost more than $1.1bn (£810m) since it was established in 2021.

With vast amounts of money pumped into the US arm of the operation, losses look likely to run to several billion dollars.

'Significant hole in LIV's schedule' - analysis

This development would leave a significant hole in LIV's schedule at the height of the golf season and adds to the uncertainty over the future of the breakaway league.

It comes just 12 days after LIV CEO O'Neil promised the tour would continue uninterrupted and at "full throttle" amid rumours Saudi Arabia are about to withdraw funding.

O'Neil has admitted they are looking for further financial backing beyond the 2026 season, but failing to deliver on their published schedule will not reassure potential new investors.

With no tournament in New Orleans, LIV would be left with a gap between 7 June and 23 July without an event, stalling momentum on what should have been a 14 tournament season.

This barren period includes the US Open and Open Championship and affects the major preparations of leading stars such as Jon Rahm and Bryson DeChambeau.

Rahm is not currently able to play on the DP World Tour because he has not paid fines imposed for playing LIV events without an official release.

The Spaniard is also suspended from the PGA Tour, and the Saudi-backed International Series on the Asian Tour has no events between mid June and October.

LIV players including Tyrrell Hatton, Tom McKibbin and Laurie Canter accepted a deal with the DP World Tour to remain members of the European circuit so they will have playing options during this crucial period in the golfing year.